Day: November 24, 2022

Cyprus’ Presidential Commissioner Photis Photiou underlined that the tragedy of the missing persons and their families is the “most painful wound of the Turkish invasion and occupation” in Cyprus, during his speech at a relevant event in Athens.

Photiou recalled that Cyprus has filed four appeals against Turkey at the Council of Europe. “In its 2001 ruling, the European Court of Human Rights (ECHR) condemned Turkey for violating a number of articles of the European Convention on Human Rights, concerning the rights of our missing persons and their relatives”, he said. In subsequent rulings, such as the one in 2014, the ECHR again condemned Turkey for failing to meet its obligations, he added.

“Turkey’s mockery, denial, and disregard for the ECHR’s judgments is a provocation not only against Europe but also against international legitimacy”, he stressed.

“Turkey has huge responsibilities, both moral, legal and political, and it should finally cooperate with sincerity and humanity to end the tragedy that the relatives of the missing persons are experiencing every day for so many decades”, Presidential Commissioner said.

In this context, he called on the international community and the international justice system to put pressure in order to make Turkey comply with juridical decisions and fulfill its obligations.

He also noted that the Committee on Missing Persons in Cyprus, which includes a representative of the United Nations, was able to present results 24 years after its establishment, while Turkey refuses to participate in any relevant action and to present its records on the missing persons or prisoners of war as required by the Geneva Conventions.

“We do not disregard the work that has been done so far by the Committee on Missing Persons, which is morally and financially supported by the Government of the Republic of Cyprus”, Photiou said, adding, however, that Nicosia is not satisfied with the pace of the results, which is due to the refusal of Turkey to cooperate.

Photiou reiterated that despite all obstacles and adversities the Republic of Cyprus will intensify its efforts to identify all the cases of missing persons. “We will not compromise or give in to the tactics of the occupying power. We will fulfill our duty towards our heroes and our history as our conscience and our duty dictate”, he concluded.

Cyprus has been divided since 1974, when Turkish troops invaded and occupied 37% of its territory. Since then, the fate of hundreds of people remains unknown.

A Committee on Missing Persons has been established, upon agreement between the leaders of the two communities, with the scope of exhuming, identifying and returning to their relatives the remains of 492 Turkish Cypriots and 1,510 Greek Cypriots, who went missing during the inter-communal fighting of 1963-1964 and in 1974.

According to statistical data published on the CMP website by August 1, 2022 out of 2002 missing persons 1,185 were exhumed and 1,027 were identified. Out of 1510 Greek Cypriot missing persons 735 were identified and 775 are still missing. Out of 492 Turkish Cypriot missing persons 292 were identified and 200 are still missing.

Source: Cyprus News Agency

Cyprus is seeking a strong, space ecosystem in the country, pledged Permanent Secretary at the Deputy Ministry of Research, Innovation and Digital Policy, Dr. Stelios Chimonas in a speech at the Council Meeting at ministerial level of the European Space Agency held in Paris.

At the ESA Council at Ministerial level held in Paris on 22 and 23 November, government ministers representing ESA’s Member States, Associate States and Cooperating States resolved to together strengthen Europe’s space ambitions, ensuring a continuous concerted effort to serve European citizens.

Ministers confirmed that Europe’s independent access to space is crucial to secure the benefits that space brings to life on Earth – including climate change monitoring and mitigation, secure communications and navigation under European control, and rapid and resilient responses to crises.

By committing to future space exploration, Europe has also committed to advancing scientific understanding, fulfilling its potential and retaining its talent for generations to come.

To achieve the goals decided during the meeting, the ministers agreed to increase the ESA’s budget by 17% compared to the last ministerial meeting in 2019.

In an intervention, Dr. Chimonas said Cyprus, despite its small size, through its extensive cooperation with ESA, is pursuing to further exploit its geostrategic position, with the opportunities arising, to form a powerful space ecosystem in the country.

For this reason it is seeking a number of reforms including the development of a National Space Strategy, based on the EU’s Space Policy and initiatives and programmes carried out by the ESA. He also referred to the creation of a Business Incubation Centre – BIC, and a local space cluster.

Source: Cyprus News Agency

The Minister of Energy, Commerce and Industry Natasa Pilides has been visiting London, heading a delegation of Cypriot businesses and promoting closer trade ties between Cyprus and the UK.

On Wednesday evening Pilides participated in a business conference titled ‘UK-CY Partnership on Green and Digital Transition in Services’, promoting Cyprus as an international hub for services and an attractive destination for investors active in green industry.

The Minister referred to the government’s policies towards achieving the energy transition and digital targets, policies of a budget of 1.2 billion euros.

She also presented the new strategy to attract businesses and skilled workers, including the ‘digital nomad’ visa and the Business Facilitation Unit, through which 1,200 foreign firms have been registered in Cyprus.

Pilides will also be attending a business forum on Thursday evening examining the role of the Cypriot diaspora in doing even more business between the UK and Cyprus.

She also attended a working lunch organised by the Institute of Chartered Accountants in England, during which there was an opportunity to discuss the recent developments in the Eastern Mediterranean and the deepening of the bilateral links between Cyprus and the UK.

The Minister was accompanied by the High Commissioner of Cyprus to the UK Andreas Kakouris.

Source: Cyprus News Agency

Credit Rating Agencies give a vote of confidence in the prospects and future developments in the Cyprus economy, Finance Minister, Constantinos Petrides said on Thursday, in an opening keynote speech at the 1st Annual Financial Markets Forum held in Limassol.

Petrides said among others that “all Credit Rating Agencies agree that Cyprus’ economic performance, including public finances during 2021, but also the resilience it has shown in 2022 to date has been much better than anticipated and that medium-term conditions continue to support efforts to reduce the country’s public debt.”

At the same time, he noted, “Credit Rating Agencies also register the significant challenges that the economy still faces, which need to be addressed, particularly NPLs in the banking sector and high levels of public and private debt.

“Essentially, Credit Rating Agencies give a vote of confidence in the prospects and future developments in the Cyprus economy. They base their opinion not only on the quick recovery of the economy after the crisis of 2011- 2013 and the difficult health crisis of 2020, as well as the consequences of the Russia-Ukraine conflict in the current year but also on their belief that in the medium term there are strong drivers of underlying growth and robust prospects for a return to fiscal surpluses,” the Finance Minister said.

He added that “the recovery can be achieved with the rational absorption and utilization of funds from the EU and the Recovery and Resilience Fund (RRF), as well as, in the longer term, with the exploitation of natural gas reserves.

Petrides further noted that “following a significant increase of debt-to-GDP to 115% in 2020 caused by the pandemic, general government gross debt resumed its sharp downward trend, reaching 103% of GDP at the end of 2021. As the fiscal performance continues to improve along with solid nominal GDP growth, general government debt is expected to decline about to 75% of GDP in 2025.”

He went on to say that “the government prudently maintains cash reserves equivalent to the financing needs of at least the following nine months, reducing any refinancing risk.”

Petrides stressed that “the Cyprus government has the resources, tools, appetite and conviction to pursue growth by differentiating its production model and investing in high-value sectors, such as ICT and green energy. The new production model is well represented with investments and reforms in the recently published Vision 2035 long-term Strategy and in the Cyprus’ Resilience and Recovery Plan,” he added

Moreover, he said that “Cyprus has, in recent years, made significant steps in the education, research and innovation sector, exhibiting one of the highest average annual growth rates in R&I investments among the EU Member States.”

Noting that innovation needs space to flourish, he noted that “the government is currently examining the revamping of the grounds of the old EXPO, a valuable state-owned asset in a prime location a few minutes from here, into an innovation/business zone that will create a new economic growth pole.”

“The specific area (250.000 square meters) fulfils a number of conditions: it is centrally located with easy access near higher educational institutions, medical/research centres and government services in an urban environment, which is expected to work synergistically with other measures that the Government is promoting for the development of the innovation ecosystem. The government has commissioned a feasibility study and a master plan that will examine the prospect of creating an innovation/district zone and will soon be launching a call for selecting a strategic investor,” the Finance Minister said.

Moreover, he noted that “the well-coordinated actions by the state enabled Cyprus to be upgraded to a strong innovator, according to the recently published European Innovation Scoreboard results. We further aspire to become a regional centre for ICT firms and a gateway for international businesses into the EU. To this end, we have prepared a Strategy to attract Business and Talent, approved by the Council of Ministers in late 2021.”

According to Petrides, “the reception of the Strategy has been great, evidenced by the more than 1200 companies registered in the Business Facilitation Unit and the more than 9000 skilled employees who recently moved and currently work in Cyprus. Still, we keep our ears open and are aware of the challenges faced by international businesses and their workforce. Our efforts are focused on further promoting e-government to provide, among others, faster and more reliable services to businesses,” the Finance Minister said.

He noted that “the road ahead is complex and challenging both regionally and internationally.” adding that economic growth stems from knowledge and innovation, and this is where a significant part of our efforts and investments should be focused.

Source: Cyprus News Agency

Our core task and mission are to defend the national security and interests of Cyprus, Minister of Defence Charalambos Petrides has said.

Speaking Thursday at a conference of the Air Force of the National Guard, the Minister expressed hope that this conference will become an institution for years to come as it will help to bring about best practices and ideas for the future, adding that the presence of prestigious speakers and distinguished guests from more than 11 countries proves the importance of its thematic areas.

He said that the Republic of Cyprus supports the various defence initiatives within the European Union, and advances its defence cooperation with countries in the region.

At the same time, he added, “our core task and mission is to defend the national security and interests of Cyprus, mitigate the imminent threat we face from Turkish revisionism, strengthen our resilience, and create a capable deterrent force to protect our citizens and sovereign rights”.

The Minister said that Cyprus actively participates in the Permanent Structured Cooperation, in numerous capabilities projects of the European Defence Agency, in EDIDP projects and European Defence Fund Research and Innovation projects.

He also highlighted that Cyprus is participating in a significant number of projects aimed at improving the Air Forces taking into account the technological developments and the need for interoperability.

“We have also significantly modified the processes of national defence planning by adopting economies of scale and the European cooperative approach”.

Moreover, he said that “in recent years we have also increased our total defence spending, almost reaching the 2% benchmark of Gross Domestic Product, even in 2021, when the pandemic has weighed on public finances. To this end, we will continue to exploit the synergies and opportunities offered by the European Defense Fund and the local defence R&D ecosystem which we fully support”.

The Air Force of tomorrow should be an important tool in shaping our strategic goals and achieving our political and military level of ambition, the Minister said.

Concluding, he reiterated that “it is a commitment by the Ministry of Defense that the input of experts, operational, academia and defence industry guides any decisions made in our defence planning. Our vision for a better and more effective military is mutual”.

Source: Cyprus News Agency

Cyprus President Nicos Anastasiades had a meeting on Thursday with former Chancellor of Germany Angela Merkel.

Anastasiades who visited Berlin for talks with Chancellor Olaf Scholz, met with Merkel in her private capacity. He posted on his twitter account that he had the distinct pleasure of meeting with former Chancellor Angela Merkel at her political office, with whom he worked together for many years during working sessions of the European Council.

“As always, even under her private capacity, we held a most captivating discussion”, he said.

Source: Cyprus News Agency

Stricter requirements are set by the banks, leading to reduced supply and demand for new loans, during the third quarter of 2022, for all loan categories, according to the results of the Bank Loan Survey (BLR) for October 2022, published by the Central Bank of Cyprus on Thursday. The survey examines the changes in lending criteria and loan demand that occurred in Cyprus in the third quarter of 2022 compared to the second quarter of the year. It also shows the changes expected to occur in the fourth quarter of 2022 compared to the third quarter of 2022.

According to the Survey, in the third quarter of 2022, the requirements for granting loans to both businesses and households were tightened compared to the previous quarter. Banks’ perception of increased risk as well as their reduced risk tolerance for business loans contributed to the adoption of stricter lending requirements. Specifically, the banks’ assessment of increased risk was related to the general financial situation and outlook, the solvency of borrowers, the prospects of the housing market and the collateral required for business loans.

For the fourth quarter of 2022, banks expect even more stricter lending requirements in Cyprus for all loan categories, due to the expected slowdown in economic activity resulting from the negative economic impact of geopolitical developments, as well as the negative impact of intensifying inflationary pressures both in household disposable income and in business profits.

Regarding the demand for new loans, the survey shows that net loan demand in Cyprus from businesses and households in the third quarter of 2022 recorded a decrease compared to the previous quarter. The net decrease in business loan demand is mainly attributed to reduced demand for fixed investment financing, which appears to be affected by increased uncertainty, as well as the upward trend in interest rates.

On the other hand, there was an increased demand for inventory and working capital financing, due to increases in energy and raw material prices as well as due to disruptions in supply chains.

As for households, the banks attribute the net decline in mortgage demand to the upward trend in interest rates, deteriorating consumer confidence and a less favorable estimated housing market outlook. Accordingly, the decrease in demand for consumer loans is due to the decrease in consumer confidence, the increased level of interest rates and the decrease in spending on the purchase of durable consumer goods.

The negative effect of inflation on households’ real disposable income appears to postpone their consumption decisions. According to banks’ expectations for the fourth quarter of 2022, net loan demand in Cyprus is expected to decline further compared to the previous quarter, both from businesses and for households.

Source: Cyprus News Agency

Cyprus President, Nicos Anastasiades, and Turkish Cypriot leader, Ersin Tatar, are expected to have a social encounter during a reception that the UN in Cyprus plan to organize in December on the occasion of the end of the year, CNA has learned.

The two leaders had met for the last time in April, during a event organized by the UN peacekeeping force in Cyprus (UNFICYP) that took place at the old Nicosia airport, during which an Action Plan aiming to ensure a more equal and meaningful participation of women in the peace process was presented.

Meanwhile, the negotiator of the Greek Cypriot side, Menelaos Menelaou and Ergun Olgun, the Special Representative of the Turkish Cypriot leader, had on Thursday their first meeting after the visit to the island of the UN Assistant Secretary-General for Europe, Central Asia and the Americas at the Department of Political and Peacebuilding Affairs – Department of Peace Operations, Miroslav Jenca, who had separate meetings with the leaders.

CNA has learned that Menelaou and Olgun assessed Jenca’s visit, which was recognized as a positive step that highlights the continuation of the UNSG Antonio Guterres’ interest to and engagement with the Cyprus problem, in the framework of efforts to reach a breakthrough and revitalize prospects for a settlement.

Moreover, they continued their general review of the situation and of more specific issues that are being discussed by the bicommunal Technical Committees.

Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third. Repeated rounds of UN-led peace talks have so far failed to yield results. The latest round of negotiations, in July 2017 at the Swiss resort of Crans-Montana ended inconclusively.

Source: Cyprus News Agency

The European Medicines Agency (EMA) has recommended authorising COVID-19 vaccine VidPrevtyn Beta, produced by Sanofi Pasteur, as a booster dose, according to an announcement to the press.

The EMA’s human medicines committee (CHMP) has recommended authorising the COVID-19 vaccine VidPrevtyn Beta as a booster in adults previously vaccinated with an mRNA or adenoviral vector COVID-19 vaccine.

VidPrevtyn Beta, developed by Sanofi Pasteur, contains a version of the spike protein found on the surface of the Beta variant of the SARS-CoV-2 virus. It also contains an “adjuvant”, a substance to help strengthen the immune responses to the vaccine.

CHMP concluded that sufficiently robust data on the quality, safety and immunogenicity of the vaccine are now available to recommend its marketing authorisation in the EU.

The decision is based on two immunobridging trials, which compare the immune response induced by this new vaccine with that induced by an authorised comparator vaccine effective against the disease.

The first trial involved 162 people aged 18 years and older, who were given a booster of VidPrevtyn Beta or the comparator vaccine (the originally authorised Comirnaty vaccine targeting the wild-type SARS-CoV-2 spike protein). The study showed that a booster dose of VidPrevtyn Beta triggers a higher production of antibodies against the SARS-CoV-2 Omicron BA.1 subvariant than Comirnaty.

In a second main study, a booster injection with VidPrevtyn Beta restored immunity against different SARS-CoV-2 virus variants in 627 people aged 18 and older who had previously completed a primary vaccination course with an mRNA vaccine (Comirnaty or Spikevax) or an adenoviral vector vaccine (Vaxzevria or Jcovden).

The most common side effects observed with VidPrevtyn Beta in studies were pain at the injection site, headache, muscle or joint pain, feeling generally unwell and chills. These were usually mild and cleared within a couple of days after vaccination.

Source: Cyprus News Agency

The Ministry of Justice and Public Order will study the first report on Cyprus of the Council of Europe Group of Experts on Action against Violence against Women and Domestic Violence (GREVIO) and will make further improvements based on the experts’ recommendations, which concern the implementation of the Istanbul Convention, the competent Minister, Stephie Dracos, told CNA. At the same time, she pointed out the “quite positive” legal and political measures taken by the Cypriot authorities, after the ratification of the Convention and which are recorded in the GREVIO report.

Asked by CNA, to comment on the report, which was published on Wednesday, Dracos said that the Ministry of Justice and Public Order had received it, noting that several of the recommendations made “have already been initiated.”

According to the Minister, “GREVIO’s report on Cyprus has quite positive elements for the Cypriot authorities, in relation to legal measures that have been taken and policies.”

She noted that, her Ministry will study the suggestions, so that the necessary measures can be taken for those actions that have not been set in motion.

“We take the observations seriously. Already, some of them have been initiated. We will study all suggestions and all necessary measures will be taken”, Dracos said.

She also pointed out, that GREVIO notes in its report “the resolve” of the authorities in Cyprus to implement the Convention and that many policies and measures have been taken in this direction.

It is noted that in March 2022, a delegation of the committee carried out the first on-site visit to Cyprus, with the aim of evaluating the measures and policies implemented for compliance with the extensive guiding framework established by the international Convention.

Source: Cyprus News Agency